True. Switzerland have also expressed a recent interest. I don’t think Americans understand it very well.
OK, let’s say a man in Canada called Fred had an idea (you didn’t get a vote on it). In return for billions of dollars every year, Fred will make US laws, pass regulations and tell you with who and what you can trade in. In return you have to do what Fred tells you. You can still have your House and senate and talk as much as you like, but you can’t change what Fred says. While Britain stays in the European Union, Fred won’t let us trade with the US either.